The Top Remodeling Projects to Boost Your Home Value for 2013

The Top Remodeling Projects to Boost Your Home Value for 2013

Your home is likely your most costly investment and when choosing to remodel, it requires careful thought and planning in order to get quality work done. There are many things to take into consideration in order to get the most resale value from your remodeling project as well. The following are some helpful tips and a guide to the values of some home remodeling projects.

One of the most important things to consider when embarking on a remodeling project is the reason behind the project. Are you trying to improve your quality of life, or are you strictly trying to create more value in your home? This can make a big difference in how you approach the project and the actual outcome.

The next thing of great importance is the budget you have to work with. That will determine whether the project will be something you undertake on your own, or whether you need to hire a contractor. It will also determine the extent of the project. Without careful planning for the budget ahead of time, you could end up with a half-finished project that will actually devalue your home rather than add to it.

If you are looking to get the most resale value from your remodeling project, the following are the results of a survey published by Remodeling Magazine which show you how much some projects can increase the value of your home.
This table may be very useful to you if you plan to begin a remodeling project in 2013.

Project Job Cost Resale Value Cost Recouped Change

Source: http://www.remodeling.hw.net/2013/costvsvalue/national.aspx]

Project

Job Cost

Resale Value

Cost Recouped

Attic Bedroom

$47,919

$34,916

73%

Backup Power Generator

$11,410

$6,014

53%

Basement Remodel

$61,303

$43,095

70%

Bathroom Addition

$37,501

$20,569

55%

Bathroom Remodel

$15,782

$10,295

65%

Deck Addition (composite)

$15,084

$10,184

68%

Deck Addition (wood)

$9,327

$7,213

77%

Entry Door Replacement (fiberglass)

$2,753

$1,813

66%

Entry Door Replacement (steel)

$1,137

$974

86%

Family Room Addition

$79,006

$50,013

63%

Garage Addition

$48,806

$31,091

64%

Garage Door Replacement

$1,496

$1,132

76%

Home Office Remodel

$27,292

$11,911

44%

Major Kitchen Remodel

$53,931

$37,139

69%

Master Suite Addition

$101,873

$64,390

63%

Minor Kitchen Remodel

$18,527

$13,977

75%

Roofing Replacement

$18,488

$11,633

63%

Siding Replacement (vinyl)

$11,192

$8,154

73%

Sunroom Addition

$72,179

$33,529

47%

Two-Story Addition

$152,470

$99,674

65%

Window Replacement (vinyl)

$9,770

$6,961

71%

Window Replacement (wood)

$10,708

$7,852

73%